The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-12-02
SPENCER THE MAN /.
For THE h. g 0. PRESIDENCY.
1t is Only A Matter Of a Short Timo Until
He will be osen-E1asxsratsd Re.
porta abont the s.rai d cd Relations Be.
tween tho 3, Indicate Rud Company.

BALTIMORE, Md, Dec. There is nc
doubt now, and has bsen none from the
frat, that Vice President Spencer ia to be
promoted to tho head Of the Baltimore &
Ohio Company. He in we'll known to the
men in the syndicate who assisted the
road In Its trouble over the renewal OF It's
d'sting debt, and when 1t was ae.tled that
Mr.. Garrett would reaign the largest stock
interests Of the company recommended
MIR. Spencer for the place. His capacity
was approved by the New Workers, who
expressed the warmess confidence in
him. From time to time during
tho negotiations for tho general
mortgage, the now issue Of pre-
fsrred atock, and the new loan Of
s5.OOO.0OO the financial condition was
carefully reported to the New Workers,
who examined and approved tho trans-
actions. All thi5 was preliminary 20 the
final closing Of negotiations u.der the
contract with j. Pierpont Morgan. Now
oil these Affairs have been settled, and in
lew days, a. fast as 1t can be fuished, o
lull statement will be made. OF course,
such big adairs require time, connidera.
ton and patience. Upon come details
there was attSitiou, but tho New Workers.
were not oppressive nor dictstorial.
In this city, where tho reelection stock
directors and thoae chosen as friends OF
the syndicate might be considered to a
certain extent two different nets Of men,
or partly representatives OF vipilant and
alert interests, both sides deny and ridi.
cule the exaggerated accounts OF alleged
strained relationa between the syndicate
and tho corporation. There has no. boon
ct any time danger Of tho loan falling
through.
Tho statement OF Gssets and liabilities
and profit and loss account for tho year
1887, when prepared for the annual meet.
ing, had estimated tie account for the
month Of September. the meeting being
held 60 coon that tho precise figures could
not bs made up in time; but they were ap-
proxlo,ately accurate, and have since been
revised. In addition to tho exhibits 70.
ierred to iu the annual report, statement
will also bs made OF the RESULT OF the deal.
inga with the syndicate.
No meeting OF the Board OF Directors
has yetsbeen called, and from tho fret the
officials have stated that none wes likely
to be hold before the second Wednesday
in December, tho 14sh.
A director, whose attention wss called
to tho delay III holding a meeting OF the
board, was asked il 1t did no. siguify there
was some hitch 6bout the elec!lcn of Mr..
Soercer. He eaid: "rhe company is re-
ducing expenses by dropping ornamental
and extra oiiicials; the administration Of
atairs hss practically been In the hands Of
Mr.. Spencer for somo time; he has, az the
representative OF y variety OF intereRts,
oeen reelected President OF two OF tbs
branch companies within two Teeks; all
oil thu executive power is now conferred In
HIM; hia advice and cooperation are
syai!ed OF by tho holders eud officers Of
.Eo corporasioD, and Whsl the election.
docs yske place it gill be merely formal
act, and some other appointments will be
made ct tho same time rs psrso the plan
Of reo'yan' cation, but thoy have not been
determined upon yot."
There were no GALES Of Baltimore &
Ohio stock on the exchange yesterday,
ou! the market quotations were higher
and the stock was held tirmer. During
tho carly morning there had been come
talk OF the danger Of negotiations with
:he syndicate falling through, but bankers
and brokers carefully investigated them,
obtaining Information from ofiicialsources,
aud the effort to bear the market Was not
successfnl. TI..-